Tenminutes
With NOW seemingly suffering with a lack of finance, it makes you wonder how MYT's backers remain loyal. Surely these backers would be better off backing something new rather than a business that is going knowhere fast.
There is an old saying that goes " If you owe the Bank £10,000 , it's your problem. If you owe the bank £10M it's their problem", and this sums up the MYT situation. Most of the backers of MYT are in so deep, they might as well hang on ( provided their exposure doesn't increase) on the basis that the first one to pull out will bring down the whole house of cards.
W.r.t. backing for Now, my view remains that they cannot make a strong business case for what is effectively another Low Cost operator in a heavily subscribed market without an obvious niche. All the talk about it being " different" will not reassure an investor, as the existing formula is seen to be " successful" by virtue of the current profit levels of both RYR and EZY.
The second quietest month of the Flying year (after November) is February. NOW would be better waiting for an April or May launch at this stage, assuming they can get all the pieces together.